Philips reports Q3 comparable sales growth of 2% to EUR 5.8 billion and an improvement in operational results to EUR 570 million
Third-quarter highlights
- Comparable sales up 2%, driven by North America, Asia Pacific and Central & Eastern Europe
- Currency-comparable order intake up 2%, driven by 6% growth in North America
- EBITA, excluding restructuring and acquisition-related charges and other items, amounted to EUR 570 million, or 9.8% of sales, compared to 9.1% of sales in Q3 2014
- EBITA totaled EUR 429 million, or 7.4% of sales, compared to a loss of EUR 62 million in Q3 2014
- Net income amounted to EUR 324 million, compared to a net loss of EUR 103 million in Q3 2014
- Free cash flow of EUR 58 million, compared to EUR 155 million in Q3 2014
- Philips provides update on Lumileds transaction
- Philips Lighting separation process on track